Monday, 18 July 2022 00:26

iTWireTV INTERVIEW: Marcus Lasarow explains how to make it rain CashD for businesses and employees

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GUEST INTERVIEW: Being able to be paid at any time in the pay cycle is something that some employees have long dreamed about, and with CashD, the D might as well stand for Digital Disruption, positively changing the way employees get paid in 2022 and beyond.

CashD. Actually pronounced as "cashed", not "Cash D" as I originally assumed, the company is a FinTech business established in Australia to offer an impressive software service that supports full-time, part-time, flexible workers, casuals and contractors in accessing their earned money in real-time, in advance of their regular pay cycle.

CashD's mission is simple, yet profound: to revolutionise the way people get paid, resulting in happier employees, happier employers, and better business outcomes.

Founder and CEO Marcus Lasarow noticed there was no way for employees to have control over when they got paid, and seeing a real pain point that some employees were trying to solve themselves via shadow finance payday loan services, the CashD idea was born in 2018 and transformed into what is today a growing and thriving business and platform.

CashD's platform is naturally cloud-based, and integrates with any businesses' operational systems, validating completed work in real time and offer web interfaces, iOS and Android apps for businesses and employees to easily manage it all with.

Each employee gets a CashD wallet balance that increases as employees complete work, and using the app or web interface, can view their available balance, and can withdraw at any time during the pay cycle.

The amount withdrawn is automatically deducted when payroll is run, making the system simple and effortless, and protections can be put in place so only a maximum percentage of money owing can be withdrawn in advance, so the employee doesn't run out of money before the end of the month.

As the CashD solution supports all employment engagements - full time, part time, flexible workers, casuals and contractors to access their earned pay in real time - employees can better align their income and expenses by accessing a portion of their accrued pay, in advance of pay day.

It goes back to the way things were done when employees received an envelope of cash for that day's work, which modern systems have obliterated, and which pay day loans complicate with sky-high interest rates, onerous credit checks and the danger of debt traps, all of which CashD completely eliminates.

It's yet another shining example of the power of data, fintech innovation, modern payment systems, cloud platforms and apps, all working harmoniously together to build a system that delivers true value, making the life of company accountants, managers and employees decidedly easier.

Even better, CashD has tremendous popularity with businesses and their employees, generating much happier employees who feel more valued, leading to greater employee wellbeing and productivity for tangibly better business outcomes.

To learn more, we spoke with CashD's founder and CEO, Marcus Lasarow, whose laser-like focus on improving businesses has delivered a truly impressive innovation, and a nicely more-in depth interview that explains everything well and during which we both have a really great conversation!

That interview is embedded below, after which is a summary of the topics we spoke about, so please watch, and read on! 

  • I started by introducing and welcoming Marcus, and learning what CashD does, how it works and the pain points it elegantly solves.

  • How CashD integrates with any existing payroll and business systems, the ease of implementation, the costs to set it up, and the different ways employees are paid, including the web interface and apps.

  • Marcus shared the flash of insight that gave him the idea to start the business, and the story of CashD's name, and customer success stories.

  • We looked at the brief version of the customer onboarding process, and Marcus shared more on CashD that we hadn't already discussed.

  • Next, we went through my usual closing questions about Marcus' history in the world of tech and what got him interested in finance, memories of his first computer, and how he sees CashD evolving over the next couple of years - and then in the 2030s, when the metaverse should be everywhere and accessed via AR and mixed reality glasses that should be as commonplace as smartphone and tablets today.

  • We finished by learning about the best advice Marcus has received in life to help him get where he is today, and his final message to iTWire viewers and readers, and to his current and future customers and partners.

So, to learn more, learn some great business advice, see how a company grew from startup to successful fintech that is just about to announce a very impressive deal, please don't miss this great video interview with CashD Founder and CEO Marcus Lasarow above!

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Alex Zaharov-Reutt

Alex Zaharov-Reutt is iTWire's Technology Editor is one of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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